The Government will give again aids to young people for the homebuying.

The Government will give again aids to young people for the homebuying.

The recent State Housing Plan 2018-2021 foresees granting aid to young people for the purchase of a home. Íñigo de la Serna, Minister of Public Works of Spain, said that if this proposal is approved, it will favor people under 35 years old who receive incomes less than three times the Public Indicator of Multiple Effects Income (or 19,170.39 euros year in 12 installments), can benefit from up to 10,800 euros with the limit of 20% of the purchase price.

This population must complete other requirements to have these aids, such as the property to be purchased will be their habitual and permanent home for a minimum period of five years and not own another property in Spain.

The project also stipulates other aid for young people to rent. In particular, it would grant up to 50% of the monthly rent for leases ranging from 600 to 900 euros per month and up to a maximum of three years. In this case, the income of the beneficiaries must also be less than three times the Iprem (19,170.39 euros per year in 12 installments or 22,365.42 euros in 14 installments) and the house must be the usual one during the aid period. Neither must the beneficiary, own a house in property.

The Autonomous Communities had the opportunity to review the draft of the plan and present its suggestions and contributions. The Ministry of Public Works expects it to take effect in early January 2018.

Fernando Encinar, head of studies of the portal specialized in the real estate market Idealista, exposed his criticisms in front of this project. "It's disappointing for several reasons. He resorts to old formulas with the start-up of aid to young people for the purchase of a house, generating the false expectation that everyone must own. In addition, it again encourages the massive indebtedness of the young, "he said in an interview posted on the website.

Encinar agrees that the Government needs to encourage measures to increase the nascent rental market, but not in the way described in the draft plan. "Giving aid directly to young people under 35 to rent a house will result in an artificial increase in rental prices."

The specialist added that this plan will be detrimental to the population 35 years of age (and earn more than € 19,170.39 per year in 12 payments) who are not eligible for this aid, as they will not have the 'extra' of the Government, but they must face a price increase provoked, precisely, by that state aid.

Idealist's head of studies proposes to recover the tax deduction of rent also for the lessee, so that everyone can enjoy this benefit and that "both the tenant and the owner declare the existence of a lease."

Encinar believes that the Government should increase the rental offer giving greater legal coverage to the owners so that they feel confident to put their homes in rent to increase the supply and also "collaborating with municipalities to provide building land for construction of housing for rental, in collaboration with private enterprise.

Other strategic lines of the plan are:

Aids of up to 40% of rental income with a limit equal to or less than 600 euros or up to 900 euros. This assistance is intended for people with incomes less than three times the Iprem and can enjoy it for three years, provided that the house is the habitual and permanent address and do not own another home.

Program for the development of housing for rent: the objective is to increase the number of housing units for rent, both public and free. The beneficiaries are agencies, administrations and public or private companies.

Assistance program for the evicted persons: the objective is to provide vacant and available dwellings of Sareb and financial institutions to be occupied. This is a macro agreement and then reach a specific agreement with each CCAA. Beneficiaries will be evicted with incomes less than three times the Iprem and without availability of housing.

Contact us
This website uses proprietary and third-party cookies to improve the browsing experience as well as for analysis. By continuing browsing, we understand that you agree the use of cookies

What are cookies?

A cookie is a small file stored on the user's computer that allows us to recognize it. The set of cookies help us improve the quality of our website, allowing us to monitor which pages are useful to the website users or and which are not.

Cookies are essential for the operation of the Internet, providing innumerable advantages in the provision of interactive services, providing us with the navigation and usability of our website. Please note that cookies can not harm your computer and, if enabled, they help us identify and resolve errors.

What kind of cookies are used in this site?

Propietary cookies: those that are sent to the user's computer from a computer or domain managed by the publisher and from which provides the service requested by the user.

Third party cookies:those that are sent to the user's computer from a computer or domain not managed by the publisher but by another entity that analyzes the data collected. .

Persisting cookies: a type of cookie in which data are still stored in the terminal and can be accessed and processed by the cookie's responsible.

Analytics cookies: using web analytics to get information on the number of users accessing the site, number of pages viewed, and repetition frequency of visits, the duration, the browser used, operator who provides the service, the language used by the terminal or the city to which is assigned the IP address. Information that allows a better and more appropriate service by this website.

Accept the use of cookies.

We assume that you accept cookies. However, you can restrict, block or erase cookies from this site or any page from the browser settings.

Next you can find the main browsers help pages: